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“One largecap which trades at a significant discount to the market and is very under owned and in my view is entering into a good growth cycle of at least two to three years. I would still think that there will be buying in this stock now on every dip.”

The Relative Strength Index of the stock stood at 54.88 on Monday.

"Standalone revenue grew 2 times YoY to Rs 9,810 crore, 70 per cent over 1QFY20 (or pre-Covid) levels and 11 per cent below our estimate. While overall growth looks strong, adjusted for the store addition, estimated LTL revenue declined by 13 per cent in 1QFY23," it said, adding that the company does not provide quarterly same-store sales growth.

Promoters held 30.3 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 26.19 per cent and 17.5 per cent, respectively.

“We are stuck, honestly, in the metal space where the call has gone wrong at this point of time. So I must share with investors that we also make mistakes, we are not the brightest sparks in the world but right now, we are trying to find money to put in agriculture related companies.”

Another global brokerage firm Jefferies is majorly bearish on the metal sector. Indian metal stocks have underperformed Nifty50 by 12-34 per cent in June 2021 quarter. It added that it is still early to turn constructive on the sectors where P/B valuations remain above the historical troughs.

On the technical charts, the 200-day moving average of the stock stood at Rs 643.28.

"Overall, Federal Bank posted healthy growth in advances, aided by strong system-level growth. Deposits were largely flat on a sequential basis as there was stiff competition among the banks to garner the same. CASA trends remained stable with a marginal decline to 36.8 per cent," said Motilal Oswal Securities while suggesting a price target of Rs 130 on the stock.

Bajaj Finance Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 338253.31 Crore) operating in NBFC sector.

Analysts said operating margins for select pockets may come under pressure, as not all companies would be able to pass on the entire cost burden to consumers. Then, there is competition and also certain policies aimed at restricting inflation, which may hurt certain sectors in the short term, they said.